Pros Say: Banks Still in for a Hard Time

CNBC.com

Thursday, 23 Apr 2009 | 7:41 AM ETCNBC.com

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The banking sector has been at the centre of the economic storm since it began and suffered server declines in value and reputation. Meanwhile governments around the world have gone to extraordinary lengths to prop up the trouble sector, landing taxpayers with severe debts in the process.

One expert told CNBC that the efforts of governments have fallen short of the saving the sector.

Governments Haven't Fixed the Banking Situation

Our government and leaders have not been able to figure out the banking situation, and this is very troubling, Morris Reid, MD of BGR Group said.

"We're tired of the photo-op politics…Leaders meeting for the sake of meeting but not really making the hard decisions," Reid told CNBC.

US Banks in for a Hard Time Next Week

"In the US, the banking problems are going to be even more difficult in the coming week because of the stress tests announcement," Richard Portes from London Business School said.

"The Treasury are caught between a rock and a hard place, they can't possibly say all these banks look fine," he added.

Markets Going Through Base-Building Process

We're going to go through a base-building process that is going to last for several months, says Lim Say Boon, chief investment strategist at Standard Chartered Group Wealth Management. He tells CNBC what investors should do in the meantime.China Can't Save World But...

China can't save the world but its improvement is crucial for the region, Anja Hochberg, global head of economics, commodities & real estate research at Credit Suisse, told CNBC.

Bet on Chinese Consumption Plays

Robert Howe, CEO of Geomatrix, likes Chinese consumption plays as he believes domestic consumption has to happen in order to pick up the slack in U.S. demand. He tells CNBC's Chloe Cho what else he is buying.

Contact Europe: Economy

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